Performance Additives Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Performance Additives Market is segmented By Type (Rubber Additives, Ink Additives, Ink Additives, Pigment Additives, Paints & Coatings Additives), By End-User Industry (Packaging, Household Goods, Construction, Automotive, Wood & Furniture, Industrial), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Performance Additives Market Overview

The Global Performance Additives Market is estimated to grow at a CAGR of 8.5% during the forecast period 2024-2031

Performance additives are the various chemicals that are added to modern-day automotive gasoline and other propelling fuels to stabilize and elevate their octane level, decrease the propensity of pre-ignition, and allow for more power to be made from increased compression and advanced ignition timing. Growing demand for these chemicals from the automobile and construction industries is likely to play a major role in market growth.

Performance Additives Market Summary

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Performance Additives Market Dynamics

The global Performance Additives market is primarily driven by the rising demand for these additives in packaging and household goods industries, as performance additives enhance the processability, performance, and appearance of the final product. The Asia Pacific is a rapidly growing region of the performance additives market, led by the growth in investments in packaging and construction industries in the region and the increase in demand for these additives in end-use industries such as automotive, packaging, household goods, construction, and industrial in major countries such as China and India.

However, volatility in raw material prices is a major challenging factor for the growth of the Performance Additives market.

Performance Additives Market Segmentation Analysis

By type, the global performance additives market is segmented as plastic additives, rubber additives, ink additives, pigment additives, and paints and coating additives. In 2018, Plastic additives accounted for the largest share of the global performance additives market, and the segment is expected to grow during the forecast period. However, the paints and coatings additives segment is expected to grow at a higher CAGR during the forecast period. The paint and coatings market is growing owing to the growth in construction activities in developing economies such as APAC and the Middle East.

By end-user industry, the global Performance Additives Market is segmented into Automotive, Construction, Wood & Furniture, Packaging, Household goods, Industrial, and Others. In 2018, the packaging end-user segment accounted for the majority share of the market.

Global Performance Additives Market Geographical Share

By geography, the global Performance Additives market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).

In 2018, APAC was the largest market in the Global Performance Additives Market, mainly due to rapid economic development in the region. Rapidly growing automotive production with a shift of automobile plants in China and India, the continuous shift of the manufacturing base, and the growing construction sector are the major growth drivers of the Asia-Pacific market. India and China are the two most populated countries in the world and have been witnessing rapid urbanization. Construction in these countries is at an all-time high because the majority of the population moves to urban areas. This shift will require more residential and commercial building construction; therefore, fueling growth in the market.

North America and Europe also offer sizeable growth opportunities, owing to the recovery of the construction industry in both regions. The U.S. construction industry is rising at a rapid pace with annual expenditures of over USD 1,231 billion.

Similarly, in Canada, Residential and mixed-use projects are dominating the local construction industry. It is expected that increased infrastructure spending will trigger additional activity, as more than 300 high-rise building projects are up for development.

Performance Additives Market Companies and Competitive Landscape

The performance Additives market is highly competitive, and thus, manufacturers continuously focus on developing new strategies to grab more customers across the globe. Over the coming years, companies are expected to focus on potential growth markets for Performance Additives. To that end, besides expanding their presence, companies are expected to formulate effective distribution strategies to make their presence felt in the upcoming markets for Performance Additives. Merger, acquisition, and product development are key strategies adopted by leading players.

The major players include BASF SE, Akzo Nobel N.V., Altana, Arkema Sa, and Clariant, Other prominent players in the market are Cytec Solvay, Evonik Industries AG, Huntsman, Lanxess AG, and Dow Inc.

In 2019, Arkema acquired ArrMaz, a US-based leader in specialty surfactants for crop nutrition, mining, and infrastructure. The acquisition reinforces the company’s Performance Additives, within the High-Performance Materials division, along with Adhesives and Technical Polymers.

Why Purchase the Report?

• Identify commercial and residential opportunities in the global Performance Additives Market by analyzing trends and co-development deals.
• Excel data sheet with thousands of data points of the global Performance Additives Market - level 3/5 segmentation.
• A PDF report with the most relevant analysis was compiled after exhaustive qualitative interviews and an in-depth market study.
• Product mapping in Excel for the key products of all major market players

Target Audience 2024

• Equipment Suppliers/ Buyers
• Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Research Professionals
• Emerging Companies
• Manufacturers